Delhivery to acquire rival Ecom Express for an amount not exceeding ₹1,407 cr

Logistics firm Delhivery's board has approved the acquisition of shares equivalent to at least 99.4% of the issued and paid up share capital, on a fully diluted basis, of rival Ecom Express for a purchase consideration not exceeding ₹1,407 crore. "Post completion of such acquisition, Ecom will become a subsidiary of Delhivery," logistics firm Delhivery said.